The production committee (製作委員会) explained

A production committee (製作委員会, seisaku iinkai) is a group of companies that jointly fund an anime and share its rights and profits. It spreads financial risk and gives each member a role in exploiting the series. For licensees, it explains why rights for one title can be handled by several different companies.

Key terms

Production committee (製作委員会, seisaku iinkai): A partnership of companies that finance an anime and co-own its rights.
Investment share (出資比率, shusshi hiritsu): The percentage each member contributes, which often shapes its share of revenue.
Window (窓口, madoguchi): The member designated to manage a specific right on the committee's behalf.
Overseas window (海外窓口, kaigai madoguchi): The member responsible for international licensing.
Credit line / copyright notice: The required notice on products, usually listing the rights holders (for example "©Author/Publisher・Committee name").

Why committees exist

Making an anime is expensive and uncertain. Rather than one company taking all the risk, a committee lets several companies invest together. Each member also brings a business that benefits from the show: a publisher sells more books, a music label sells theme songs, a toy company gets a product line, a broadcaster gets programming, a streamer gets content.

In return for their investment, members typically share in revenue from all exploitation of the series, in proportion to their investment share or under whatever terms they agreed.

How rights are divided

Committees often assign each type of right to a window. A common pattern might look like:

Publisher: publishing, and sometimes overseas licensing.
Music label: soundtrack and theme songs.
Toy or merchandise company: consumer products in Japan.
Broadcaster: domestic TV.
A lead member (often an anime producer or a large media company): overseas media and merchandise.

The exact arrangement varies by title and is not usually public. The window negotiates and signs deals, but significant decisions may still need agreement from other members, which is one reason approvals can take time (see 6.2).

What it means for you as a licensee

Find the window, not just any member. Contacting the wrong member can stall your inquiry.
Expect consensus. A "yes" from your contact may still need internal sign-off.
Follow the credit line exactly. The copyright notice is usually specified by the committee and must appear as provided.
Not every title uses a committee. Some are funded by a single company or a streamer, which can simplify things.

Example

The fictional series Iron Lotus Academy is backed by a committee of five members: a publisher, a studio, a music label, a toy maker, and an anime producer that acts as overseas window.

Moonfox Apparel wants US apparel rights. It contacts the toy maker, which it knows handles merchandise in Japan, and is redirected to the overseas window. Moonfox negotiates with the anime producer, which consults the publisher on artwork and the committee on terms before agreeing. The final contract lists the committee's official copyright notice to print on every hang tag.

Common mistakes

Assuming the Japanese merchandise window also handles overseas. Domestic and international rights are often split.
Treating one member's enthusiasm as approval. Committee decisions can require several sign-offs.
Changing the copyright notice. Use it exactly as supplied.
Expecting committee terms to be public. They usually aren't; ask your contact what they can handle.